Shares of Water Technologies International Inc (OTCMKTS:WTII) opened strong but have been selling off.
Market Action
WTII is up Wednesday. As of 12.23 PM, the stock was up by 17.65% at $0.02. Volume was 29.10 million shares, above its 30-day daily average volume of 25.50 million shares. The stock opened at $0.024 and moved in a range of $0.018-$0.0241.
AITX News
AITX issued news Wednesday
Water Technologies International, Inc. Commences Big Box Home Improvement Pro Services & Sales Program for Residential & Business RO Systems
- The company’s wholly-owned subsidiary, Water Zone, Inc., has commenced a sales agreement with AO Smith, a manufacturer of a whole house reverse osmosis system to be sold through Lowes.
- Lowe’s Pro Services has chosen Water Zone to provide expertise in sales and service for its customers.
- Water Zone will be given customer leads, then go to the home or business and test the water.
- The rollout has begun in 6 stores on the Treasure Coast and in the Palm Beaches of Florida.
Water Technologies, Inc.’s CEO, William Scott Tudor, said, “I am excited about this opportunity with Lowe’s Pro Services group! A.O. Smith has a great product that produces clean drinking water for your whole house or business. We have already been getting leads from Lowe’s. and to have this exclusive product deal and combined with the Lowe’s store traffic directed to us for their clean water needs, gives us a big advantage. I see us gaining additional residential and commercial business by introducing Water Zone for the customer’s clean water needs. This should increase and diversify our revenue growth.”
Traders Notes
WTII spiked in April and has been selling off ever since losing about 70% of its gains. WTII has not put together two winning days in a row, and the stock is struggling for sure. Yesterday, the stock found a bit of support at.018 and wanted to bounce higher today, but so far has been unable to do so. This morning, WTII gapped up 40%, but started to sell off right away. This is not a great sign moving forward.
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